Global natural gas prices declined again on Monday as tensions in the Middle East continued to cool and the risk premium faded.
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The Title Transfer Facility (TTF) and the Japan-Korea Marker (JKM) fell last week after Israel and Iran agreed to a ceasefire following attacks against each other that threatened to close the Strait of Hormuz, which is a vital route for LNG cargoes. The focus is now shifting back to tariffs as the United States and Canada work to revive trade negotiations.
TTF was down again on Monday, when the August contract finished 2% lower at $11.34/MMBtu.